60.84 60.60 DCA5DEE6 97B0 407F AD08 89C9564DE23E Q3 2006 Analysts Meeting

September 30,2006 September 30,2005 September 30,2006 September 30,2005 INCOME AND EXPENSES FROM OPERATIONS 1. Interest Income 1.1. Interest income a. Rupiah 16,938,225 12,004,796 17,674,623 12,752,121 b. Foreign currencies 1,593,594 1,714,268 1,708,229 1,783,564 1.2. Fees and commissions on loan facilities a. Rupiah 376,183 372,924 376,183 372,924 b. Foreign currencies 61,108 59,085 67,817 80,342 TOTAL INTEREST INCOME 18,969,110 14,151,073 19,826,852 14,988,951 2. Interest expenses 2.1. Interest expense a. Rupiah 10,683,610 6,631,211 11,039,127 6,937,067 b. Foreign currencies 1,255,336 1,102,533 1,310,569 1,134,804 2.2. Fees and commissions - 139 - 20,105 TOTAL INTEREST EXPENSE - - 11,938,946 7,733,883 12,349,696 8,091,976 NET INTEREST INCOME 7,030,164 6,417,190 7,477,156 6,896,975 3. Other operating income 3.1. Other fees and commissions 1,084,081 1,014,546 1,228,143 1,130,349 3.2. Foreign exchange gain 312,648 239,221 312,692 249,905 3.3. a. Gain from sale of securities and Government Recapitalization Bonds 53,891 223,823 80,356 203,116 b. Gain from increase in value of securities and Government Recapitalization Bonds 87,464 - 86,059 - 3.4. Others 374,892 472,184 341,571 511,025 TOTAL OTHER OPERATING INCOME 1,912,976 1,949,774 2,048,821 2,094,395 4. Provision for possible losses on earning assets 2,881,526 2,739,139 2,967,100 2,853,511 5. Addition reversal of estimated losses on commitments and contingencies 3,382 95,040 16,764 63,171 6. Reversal for possible losses on others 12,448 536,938 12,448 536,938 7. Other operating expenses 7.1. General and administrative expenses 1,798,274 1,861,212 2,015,635 2,035,102 7.2. Salaries and employee benefits 1,932,909 1,756,165 2,148,042 1,946,330 7.3. a. Losses from sale of securities and Government Recapitalization Bonds - - - - b. Losses from decline in value of securities and Government Recapitalization Bonds - 103,812 - 103,812 7.4. Foreign exchange losses - - - - 7.5. Promotion expenses 195,490 187,720 219,458 203,021 7.6. Others 402,994 427,452 432,441 462,459 TOTAL OTHER OPERATING EXPENSES - - 4,329,667 4,336,361 4,815,576 4,750,724 PROFIT FROM OPERATIONS 1,747,777 1,923,442 1,772,513 1,987,244 NON-OPERATING INCOME AND EXPENSES 8. Non-operating income 38,570 29,494 48,844 38,472 9. Non-operating expenses 21,028 48,664 22,837 57,067 NON OPERATING INCOME EXPENSES - NET 17,542 19,170 26,007 18,595 10. Extraordinary income expenses - - - - 11. PROFIT BEFORE INCOME TAX 1,765,319 1,904,272 1,798,520 1,968,649 12. Estimated income tax expense - - - Current 259,939 220,377 292,748 292,939 - Deferred 318,819 457,774 318,819 448,963 13. PROFIT BEFORE MINORITY INTERESTS 1,186,561 1,226,121 1,186,953 1,226,747 14. Minority interests - - 392 626 15. Retained earnings beginning of the year 4,005,436 6,161,275 4,005,436 6,161,275 16. a. Dividend 301,685 2,627,816 301,685 2,627,816 b. Others 12,066 105,112 12,066 105,112

17. RETAINED EARNINGS ENDING OF THE YEAR 4,878,246

4,654,468 4,878,246 4,654,468 18. EARNINGS PER SHARE full amount - Basic - -

58.44 60.84

- Dilluted - -

57.93 60.60

Presented as a net of gains losses from foreign exchange transactions. Presented as a net of gains losses from increase decrease in value of Securities and Government Bonds. DESCRIPTION NO In Millions of Rupiah BANK CONSOLIDATED September 30,2006 September 30,2005 September 30,2006 September 30,2005 COMMITMENTS Commitment Receivables 1. Unused fund borrowings facilities a. Rupiah - - - - b. Foreign currencies - - - - 2. Others - - - - Total Commitment Receivables - - - - Commitment Payables 1. Unused loan facilities granted a. Rupiah 18,064,711 17,523,644 18,166,907 17,575,214 b. Foreign currencies 2,248,716 2,961,599 2,250,367 2,961,599 2. Outstanding irrevocable letters of credit 4,195,492 5,492,206 4,471,007 5,810,189 3. Others - - - - Total Commitment Payables 24,508,919 25,977,449 24,888,281 26,347,002 COMMITMENTS - NET 24,508,919 25,977,449 24,888,281 26,347,002 CONTINGENCIES Contingent Receivables 1. Guarantees received a. Rupiah 188,727 184,778 188,727 184,778 b. Foreign currencies 2,067,852 2,084,439 2,070,342 2,087,217 2. Unrecognized interest income a. Rupiah 3,682,640 2,286,503 3,682,861 2,286,503 b. Foreign currencies 2,548,107 1,253,720 2,548,112 1,253,720 3. Others 32,741 32,949 32,741 32,949 Total Contingent Receivables 8,520,067 5,842,389 8,522,783 5,845,167 Contingent Payables 1. Guarantees issued a. Bank guarantees - Rupiah 3,561,654 3,477,112 3,625,089 3,590,766 - Foreign currencies 8,026,916 9,564,724 8,094,065 9,665,082 b. Others - - - - 2. Outstanding revocable letters of credit - - - - 3. Others 40,196 112,683 38,133 112,683 Total Contingent Payables 11,628,766 13,154,519 11,757,287 13,368,531 CONTINGENCIES - NET 3,108,699 7,312,130 3,234,504 7,523,364 In Millions of Rupiah NO STATEMENTS OF COMMITMENTS AND CONTINGENCIES BANK CONSOLIDATED DESCRIPTION As of September 30, 2006 and 2005 85 Board of Commissioners - Chairman : Edwin Gerungan S. E O - Deputy Chairman : Muchayat Board of Directors - Commissioner : Soedarjono PT Bank Mandiri Persero Tbk. - Commissioner : Richard Claproth - Independent Commissioner : Pradjoto - Independent Commissioner : Gunarni Soeworo - Independent Commissioner : Yap Tjay Soen Board of Directors - President Director : Agus Martowardojo - Deputy President Director : Wayan Agus Mertayasa - Director : Omar Sjawaldy Anwar - Director : Zulkifli Zaini - Director : Abdul Rachman - Director : Sasmita - Director : Sentot A. Sentausa - Director : Bambang Setiawan - Director : Riswinandi - Director : Thomas Arifin - Director : Budi Gunadi Sadikin acting as independent commissioner acting as compliance director 1 The above financial information as of and for the nine months ended September 30, 2006 unreviewed and 2005 reviewed is derived from the consolidated financial statements. As the financial information is derived from the consolidated financial statements, it does not provide a complete presentation of all disclosures that are included in the consolidated financial statements. 2 The consolidated financial statements as of and for the nine months period ended September 30,2006 was not reviewed and the consolidated financial statements as of and for the nine months period ended September 30, 2005 have been reviewed by public accounting firm Purwantono, Sarwoko Sandjaja Prasetio, Sarwoko Sandjaja, a member of Ernst Young Global Partner In-charge is Drs. Soemarso SR ME with unqualified opinion in their report dated November 18, 2005. 3 The above financial information is presented in accordance with the following stipulations: a Bank Indonesias Regulation No. 322PBI2001 dated December 13, 2001 as amanded by Bank Indonesias Regulation No. 750PBI2005 dated November 29, 2005 regarding Transparency of Banks Financial Condition. b Bank Indonesia’s Circular Letter No. 710DPNP dated March 31, 2005 regarding the amendment of Bank Indonesias Circular Letter No. 330DPNP dated December 14, 2001 concerning Presentation of Quarterly and Monthly Published Financial Statements of Commercial Banks and Certain Report Submitted to Bank Indonesia. c Bank Indonesias Regulation No. 47PBI2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit by Commercial Banks from the Indonesian Banks Restructuring Agency IBRA. d Bank Indonesias Letter No. 5559DPNPIDPnP dated December 24, 2003 regarding Banks Published Financial Statements. e Rule X.K.2, Decision of Chairman of the Capital Market Supervisory Agency Bapepam, Attachment No. Kep-36PM2003 dated September 30, 2003 regarding Obligation to Submit Periodic Financial Statements 4 Bank assessed asset quality rating based on Bank Indonesias Regulation No. 72PBI2005 dated January 20, 2005, as amanded by Bank Indonesias Regulation No. 82PBI2006 dated January 30, 2006 regarding change in PBI 7, which among others required the Bank to apply the asset quality designated by Bank Indonesia, in the event of difference in assessment of asset quality between Bank and Bank Indonesia and other consideration such as classification determined by other commercial banks on the earning assets given by more than one bank and availiability of audited financial statements. 5 For comparative purposes, certain accounts in the financial information as of and for the nine months ended September 30, 2005 have been reclassified to conform with the presentation of accounts in the financial information as of and for the nine months September 30, 2006. 6 Exchange rate of 1 US Dollar as of September 30, 2006 and 2005 was Rp 9,225 and Rp 10,290 respectively. 7 Basic and diluted earnings per share are calculated by dividing the net profit with the weighted average number of shares issued and fully paid during the period, after considering the effects of stock options. Wayan Agus Mertayasa Republic of Indonesia : 68.90 Ultimate Shareholders JP Morgan Chase Bank US Resident Norbax Inc : 6.33 Public : 24.77 Agus Martowardojo President Director Deputy President Director SHAREHOLDER 86 SPECIAL SUB SPECIAL SUB MENTION STANDARD MENTION STANDARD I Related Parties A EARNING ASSETS 1 Placement with other banks 129,150 - - - - 129,150 269,989 - - - - 269,989 2 Securities 91,153,138 - - - 10,000 91,163,138 92,627,877 - - - 10,000 92,637,877 3 Loan to related parties 679,885 - 6,000 - 203,252 889,137 982,942 32 6,000 - 390,791 1,379,765 a. Small scale business credit KUK - - - - - - - - - - - - b. Property Loans 4,275 - - - - 4,275 11,035 - - - - 11,035 i. Restructured 3,500 - - - - 3,500 10,500 - - - - 10,500 ii. Unrestructured 775 - - - - 775 535 - - - - 535 c. Other restructured loans 237,712 - - - - 237,712 138,703 - - - 148,793 287,496 d. Others 437,898 - 6,000 - 203,252 647,150 833,204 32 6,000 - 241,998 1,081,234 4 Investment in shares of stock to related parties 2,124,747 - - - - 2,124,747 2,026,168 - - - 5,159 2,031,327 a. In bank financial institutions 1,224,831 - - - - 1,224,831 1,194,001 - - - - 1,194,001 b. In non bank financial institutions 749,719 - - - - 749,719 643,780 - - - 5,159 648,939 c. Due to loan restructuring - - - - - - - - - - - - d. Others 150,197 - - - - 150,197 188,387 - - - - 188,387 5 Other receivables to related parties - - - - - - 34,115 - 1,135 - 50 35,300 6 Commitments and contingencies to related parties 5,532 - - - - 5,532 27,730 - - - - 27,730 B NON EARNING ASSETS 1 Abandoned properties - - - - - - - - - - - - 2 Repossessed Assets - - - - - - - - - - - - 3 Interbranch and suspense account - - - - - - - - - - - - II Third Parties A EARNING ASSETS 1 Placement with other banks 14,012,038 - - - - 14,012,038 14,438,649 - - - - 14,438,649 2 Securities issued by Bank Indonesia and third parties 9,813,694 - 13,643 - 1,070,684 10,898,021 1,978,507 - 180,873 - 1,093,831 3,253,211 3 Loan to third parties 62,933,758 10,991,294 3,817,606 1,931,770 20,289,085 99,963,513 58,373,663 16,454,105 7,292,493 5,280,407 11,485,409 98,886,077 a. Small scale business credit KUK 3,404,107 716,597 160,305 84,614 362,755 4,728,378 3,630,331 541,007 28,973 30,955 400,052 4,631,318 b. Property Loans 7,183,724 2,042,335 358,195 688,534 1,297,889 11,570,677 1,711,661 1,093,031 790,206 300 159,035 3,754,233 i. Restructured 156,317 205,570 61,411 - 173,280 596,578 234,295 446,991 88,846 - - 770,132 ii. Unrestructured 7,027,407 1,836,765 296,784 688,534 1,124,609 10,974,099 1,477,366 646,040 701,360 300 159,035 2,984,101 c. Other restructured loans 5,046,925 2,428,562 1,069,812 278,395 7,147,964 15,971,658 5,356,722 4,740,863 2,835,633 2,889,730 4,024,652 19,847,600 d. Others 47,299,002 5,803,800 2,229,294 880,227 11,480,477 67,692,800 47,674,949 10,079,204 3,637,681 2,359,422 6,901,670 70,652,926 4 Investment in shares of stock of third parties 4,956 - - - 72,626 77,582 4,955 - - - 72,625 77,580 a. In bank financial institutions - - - - - - - - - - - - b. In non bank financial institutions - - - - 1 1 - - - - - - c. Due to loan restructuring - - - - 72,625 72,625 - - - - 72,625 72,625 d. Others 4,956 - - - - 4,956 4,955 - - - - 4,955 5 Other receivables from third parties 4,233,301 798,949 134,031 31,032 852,738 6,050,051 5,333,032 2,147,702 1,047,035 179,151 1,127,825 9,834,745 6 Commitments and contingencies to third parties 14,976,946 480,749 137,127 13,231 170,477 15,778,530 16,712,267 1,315,640 332,718 100,877 44,810 18,506,312 B NON EARNING ASSETS 1 Abandoned properties - - - - - 442,933 - - - - - 269,881 2 Repossessed Assets - - - - - 158,922 - - - - - 169,373 3 Interbranch and suspense account - - - - - 987,179 - - - - - 2,339,852 200,067,145 12,270,992 4,108,407 1,976,033 22,668,862 242,680,473 192,809,894 19,917,479 8,860,254 5,560,435 14,230,500 244,157,668 1 a. Required allowance for possible losses on earning assets 1,033,326 614,583 575,678 406,295 12,971,922 15,601,804 977,374 961,520 1,718,183 1,664,050 9,234,949 14,556,076 b. Required allowance for possible losses on non earning assets - - - - - - - - - - - - Total required allowance for possible losses on assets 1,033,326 614,583 575,678 406,295 12,971,922 15,601,804 977,374 961,520 1,718,183 1,664,050 9,234,949 14,556,076 2 a. Established allowance for possible losses on earning assets 1,318,189 614,583 575,679 406,295 13,057,595 15,972,341 977,660 961,520 1,718,183 1,664,050 9,693,620 15,015,033 b. Established allowance for possible losses on non earning assets - - - - - 258,798 - - - - - 2,030,018 Total established allowance for possible losses on assets 1,318,189 614,583 575,679 406,295 13,057,595 16,231,139 977,660 961,520 1,718,183 1,664,050 9,693,620 17,045,051 3 Value of banks assets pledge as collateral : a. To Bank Indonesia - - b. To others - - 4 Percentage of small scale business credit to total loans 4.69 4.63 5 Percentage of small scale business credit debtors to total debtors 38.12 35.49 6 Percentage UMKM to total loans 11.62 10.55 7 Percentage of UMKM debtors to total debtors 41.59 39.34 Include Government Recapitalization Bonds The Calculation of allowance for possible losses on earning assets should be provided on the principal after deducting by collaterals. No allowance for posible losses is required for certificates of Bank Indonesia, placements with Bank Indonesia and government recapitalization bond. LOSS DOUBTFUL CURRENT TOTAL CURRENT DOUBTFUL LOSS September 30, 2006 September 30, 2005 In Millions of Rupiah No DESCRIPTION B A N K TOTAL TOTAL 87 Hedging Others Receivable Payable

A. Exchange Rate Related

1 Spot - 431 - - - 2 Forward - 748,034 3,455 5,088 - 3 Option a. Purchased - - 216 5 - b. Written - - 9 17 - 4 Future - - - - - 5 Swap - 6,476,682 358,773 22,277 - 6 Other - - - - - B Interest Rate Related 1 Forward - 1,918 710 1,208 - 2 Option a. Purchased - - - - - b. Written - - - - - 3 Future - - - - - 4 Swap - 14,307 - 14,307 - 5 Other - - - - - C Other - - - - - TOTAL 363,163 42,902 Contract Value Netting Agreement As of September 30, 2006 BANK In Millions of Rupiah Contract Market Value Derivative Receivable Payable NO TRANSACTION

I. COMPONENTS A. CORE

CAPITAL 21,705,999 21,210,657 1. Paid-Up Capital 10,159,165 10,116,800

2. Disclosed Reserves

a. Agio 6,025,803 5,999,350 b. Disagio -- - - c. Shares Option 170,647 10,107 d. Donated Capital Additional Paid-In Capital - - e. General and Appropriated Reserves 2,575,369 2,560,285 f. Previous years profit after tax 1,917,302 1,541,204 g. Previous years losses -- - - h. Current year profit after tax 50 752,690 837,542 I. Current year losses -- - - j. Differences Arising from Translation of Financial Statements in Foreign Currencies 1 Positive Adjustment 105,023 145,369 2 Negative Adjustment -- - - k. Funds for Paid-Up Capital - - l. Decline in Value of equity participation in Available for Sale Portfolio -- - - m. Differences Arising from Restructuring of Transaction among Entities under Common Control - -

3. Goodwill --

- -

4. Differences arising from assets and liabilities valuation due to Quasi

Reorganization - - B. Supplemental Capital Max 100 of core capital 8,516,829 8,603,749 1. Reserve for Premises and Equipment Revaluation 3,046,936 3,046,936 2. Differences Arising from Assets and Liabilities Valuation due to Quasi Reorganization - - 3. General Reserves of Allowance for Possible Losses on Earning Assets max 1.25 of risk weighted assets 1,278,189 977,660 4. Loan Capital - 83,349 5. Subordinated Loans max 50 of core capital 4,191,704 4,495,804 6. Increase in Value of Equity Participation in Available for Sale Portfolio 45 - -

C. ADDITIONAL SUPPLEMENTAL CAPITAL FULFILLING REQUIREMENT

- -

D. ADDITIONAL SUPPLEMENTAL CAPITAL ALLOCATED TO ANTICIPATE

MARKET RISK - - II. TOTAL CORE CAPITAL AND SUPPLEMENTAL CAPITAL A+B 30,222,828 29,814,406 III. TOTAL CORE CAPITAL,SUPPLEMENTAL CAPITAL, AND ADDITIONAL SUPPLEMENTAL CAPITAL ALLOCATED TO ANTICIPATE MARKET RISK A+B+D 30,222,828 29,814,406 IV. INVESTMENTS IN SHARES OF STOCK -- 2,129,704 2,031,123

V. TOTAL CAPITAL FOR CREDIT RISK II-IV 28,093,124

27,783,283 VI.TOTAL CAPITAL FOR CREDIT AND MARKET RISK III-IV 28,093,124 27,783,283 VII.CREDIT RISK-WEIGHTED ASSETS 110,392,786 117,497,301 VIII.MARKET RISK-WEIGHTED ASSETS 2,712,591 3,102,171 IX.ESTABLISHED CAPITAL ADEQUACY RATIO FOR CREDIT RISK V : VII 25.45

23.65 X. ESTABLISHED CAPITAL ADEQUACY RATIO FOR CREDIT AND